Do you guys follow the wider market or watch the news? BHP, RIO, FMG all getting hammered too. Iron ore price is being pounded on fears of demand weakening out of China. Evergrande holding $300bn in debt on the verge of collapse and China looking likely to let it fall.
That is all macro level stuff - you'll always be exposed to that participating in the market. And realistically, it can slow things down significantly elsewhere. It could slow the adoption of EV's down a lot for sure. I'm a little more optimistic given EV demand is more out of US and Europe than China.... but lets not kid ourselves either
Micro view; the share price has not taken a hit because of today's announcement. It is a great announcement.
I asked Justin specifically about IP / barriers to entry for battery grade manganese production. His answer was a little coy at the time (understandable) but he was busy behind the scene's as he always seems to be.
My concern was that if it's very easy to produce HPM, then many new entrants to the market will crash the price. I felt we were protected by being a low cost producer (IMO) but now our status as a low cost producer will also be protected... meaning we can ride out the fluctuations of the market and impact to HPMSM pricing.
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